Mubasher: Al Ahleia Insurance achieved a surge of 398.9% in profits to KWD 2.29 million ($7.58 million) in the third quarter of 2017 compared to KWD 459,000 ($1.52 million) in the same period last year.
During the nine-month period of 2017, earnings grew by 14.7% to KWD 7.09 million from KWD 6.18 million in the same period in 2016, according to a bourse statement issued on Monday.
The increase in profits is attributed to a higher return on investment as well as a growth in profits registered by Al Ahleia Insurance’s subsidiaries.
It is noteworthy that the company’s profits shrank by 16.1% to KWD 4.8 million in the first half of 2017 compared to KWD 5.72 million in the same period in the prior year.
At the stock level, Al Ahleia Insurance closed Monday 19.77% higher at 412 fils.
